Price analysis of the ripples: XRP ready to break the support of $ 0.3000

The price of the ripple is currently under pressure below the support levels of $ 0.3200 and $ 0.3180 compared to the US dollar.

C & # 39; is a crucial bearish trend line formed with resistance at $ 0.3185 on the hourly chart of the XRP / USD pair (data source from Kraken).

It is likely that the pair will extend the current decline and may even disrupt the $ 0.3000 support area.

The price of the fluctuations fell sharply below the key support against the US dollar and Bitcoin. The XRP / USD remains at risk of further losses below the support levels of $ 0.3050 and $ 0.3000.

Ripple Price analysis

Last week, we saw a decent recovery above $ 0.3300 in ripple compared to the US dollar. However, the XRP / USD has failed on many occasions to cancel resistance levels of $ 0.3380 and $ 0.3400. As a result, there was a bearish reaction and the price fell below the support level of $ 0.3200. The decline was such that the peer broke the key support level of $ 0.3180 and moved into a bearish zone. Finally, there was a closing below the support level of $ 0.3200 and the simple 100-hour moving average.

Low was formed at $ 0.3102 and thereafter the price started a short-term upward correction. It has recovered above $ 0.3120 and $ 0.3130 levels. There was a break above the 23.6% retracement level of Fibra's last decline, from $ 0.3352 upwards to $ 0.3102 below. However, the previous major support near $ 0.3180 is now acting as a strong barrier for buyers. Furthermore, there is a crucial bearish trend line formed with resistance at $ 0.3185 on the hourly chart of the XRP / USD pair. Above the trendline, the 50% fiber retracement level of the last decline from the low of $ 0.3352 to $ 0.3102 is $ 0.3227. Therefore, there are many obstacles formed around $ 0.3180, $ 0.3200 and $ 0.3220.

Looking at the chart, the price of ripple could continue to clash with the resistance level of $ 0.3200. Therefore, there is the risk of further losses and could even disrupt the support area of ​​$ 0.3000.

Technical indicators

MACD schedule – The MACD for XRP / USD is slightly positioned in the bearish zone.

Now RSI (Relative Strength Index) – The RSI for XRP / USD is now well below the 50 level, with many bearish signals.